Partnership Taxation: Section 751 Hot Assets Self-Study Webinar (1.5 Hours)

Partnership Taxation: Section 751 Hot Assets Self-Study Webinar (1.5 Hours)

CPE Credit: 1.5 Hours

Price: $99.00

NASBA Field of Study: Taxes

 

Overview

IRC Section 751 (Hot Assets) was enacted to prevent the conversion of ordinary income into a capital gain to obtain a lower tax rate.

In a disposition, sale or exchange of all or part of a partnership, these rules can make an enormous difference in tax liability unless they are handled properly.

This self-study webinar will focus on application of rules under Section 751 (Hot Assets) and will include a discussion of Hot Assets and the reporting requirements, as well as how to make the necessary computations.
 

AGENDA HIGHLIGHTS


•  Application of the rules

•  Definition of Hot Assets

•  Identification and treatment of Hot Assets

•  Tax treatment in Section 751

•  Section 751 transaction and reporting requirements
 

LEARNING OBJECTIVE  To teach tax professionals how to apply the rules under Section 751 (Hot Assets), handle the reporting
requirements and do the necessary computations.

PREREQUISITE  Basic knowledge of federal taxation.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Intermediate.
NASBA FIELD OF STUDY  Taxes.    DELIVERY METHOD  Self-Study.

Speakers

SPEAKER


W. Stewart Connard, CPA

Detailed Learning Objectives

Recognize partnership “hot assets” and their tax implications upon distribution to a partner

Recognize the circumstances in which the “hot asset” rules apply

Identify specific “hot assets”

Recognize the partnership transactions to which Section 751 applies